Monday 23 October 2017

In brief: RBS sells unit

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Shell logo

British state-controlled lender Royal Bank of Scotland (RBS) is to sell its Luxembourg-based fund management business as part of its plan to focus on its core UK bank business.

RBS has appointed PricewaterhouseCoopers to advise on the sale of the fund management unit, which had €28.5bn in assets under administration at the end of last year. RBS said the process was "well under way" and it was working with PwC "to select a limited number of potential buyers" with whom to continue discussions.

Sláinte Down Under

Irish health technology firm Sláinte Healthcare has secured a fourth contract in Australia.

The Irish company has won a contract with Bendigo Health, in regional Victoria, that conducts over 300,000 treatments per year. Sláinte Healthcare will implement its 'Vitro' software as the Digital Medical Record at Bendigo.

Sláinte's software is in use more than 53 hospitals in Ireland, including the Beacon and St James's. It develops software to increase efficiency in healthcare, such as an electronic patient chart. It employs over 130 people in Ireland and abroad.

Shell shifts forecourts

Shell has agreed to sell 185 service stations across Britain to two independent dealers, further reducing its presence in the European retail energy market. Shell will sell 90 stations to Motor Fuel Group, which already manages BP-branded service stations, while the sale of 68 others has been agreed with Euro Garages, the company said, without disclosing financial details.

ECB QE slows

The European Central Bank (ECB) bought €9.159bn worth of government bonds in the fifth week of its quantitative easing programme.

This was at a slower pace than a week earlier and below the average amount needed to keep the programme on track.

The ECB said it had settled a total of €61.681bn of purchases of mainly sovereign bonds as of April 10, up from €52.52bn the week before. It aims to buy €60bn of assets a month.


In a report on CRH last Saturday we incorrectly linked analyst Phil Rosenberg to Alliance Bernstein. In fact, he works for Bernstein Research. We apologise for the mix-up.

Irish Independent

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